Armored Vehicles Market Size, Share, Growth And Report 2033

The new report published by The Business Research Company, titled Armored Vehicles Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the armored vehicles market size has grown strongly in recent years. It will grow from $12.78 billion in 2023 to $13.73 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The armored vehicles market size is expected to see strong growth in the next few years. It will grow to $16.86 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%.

Download Free Sample Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=3997&type=smp

Increased Military Expenditure In The Armored Vehicle Market
Increased military spending is expected to fuel the growth of the armored vehicle market over the forecast period. Countries around the world are investing in the military because of their conflicts and rivalries with other nations. Military expenditure covers operations, maintenance, arms acquisition, armored vehicles, and military research and development. For instance, in April 2022, according to the Stockholm International Peace Research Institute (SIPRI), a Sweden-based international research institute on arms control, arms transfers and non-proliferation, in 2021, total global military spending was expected to increase by 0.7% in real terms to $2113 billion, marking the seventh year in a row that spending increased. The United States was the largest spender, with military R&D funding of $801 billion in 2021. China was the world's second-largest spender, allocating an estimated $292 billion to its military in 2022. Thus, increased military spending is driving the growth of the armored vehicle market.

Innovations In The Armored Vehicle Market
Major companies operating in the armored vehicle market are focusing on innovating products, such as armored light specialist vehicle, to provide reliable services to customers. A light specialist vehicle typically refers to a type of vehicle designed and equipped for specific specialized tasks or roles, often within military or emergency services contexts. For instance, in June 2023, Mahindra Defence Systems Limited, an India-based provider of innovative, armored solutions for the military and paramilitary forces, launched the Armoured Light Specialist Vehicle (ALSV). The Armoured Light Specialist Vehicle (ALSV) is a light-weight, four-wheel-drive, air-transportable tactical armored specialist vehicle. It is used for a variety of roles, including reconnaissance, patrol, and convoy escor*t. The vehicle is powered by a Steyr 3.2-liter, 6-cylinder turbo diesel engine which provides 215 hp at 3600 rpm with a peak torque of 500Nm. The ALSV's variants include the 6 to 8-seater Armored Protection Vehicle for Security, Light Armored Ambulance, Command and Control Vehicle, Light Mortar 81/82mm Vehicle, and Ammunition Carrier for Light Weapons.

The armored vehicles market covered in this report is segmented -

1) By Vehicle Type: Armored Personnel Carrier, Infantry Fighting Vehicle, Main Battle Tanks, Tactical Truck, Bus, Others
2) By Platform: Combat Vehicles, Combat Support Vehicles, Unmanned Armored Ground Vehicles
3) By System: Engine, Drive System, Ballistic Armor, Fire Control System (FCS), Armaments, Ammunition Handling System, Countermeasure System, Command And Control System, Others
4) By Mobility: Tracked, Wheeled, 4X4, 6X6, 8X8, Others

Buy Now & Get Exclusive Discount on this Report, Checkout link @
https://www.thebusinessresearchcompany.com/Discount?id=3997&type=discount

Major companies operating in the armored vehicles market include BAE Systems, Oshkosh Corporation, International Armored Group, General Dynamics Land Systems, Textron Inc., Rheinmetall AG, Lockheed Martin Corporation, Krauss-Maffei Wegmann GmbH & Co. KG, INKAS Armored Vehicle Manufacturing, Elbit Systems Ltd., IVECO S.p.A., Lenco Armored Vehicles Inc., Navistar - Navistar International Corporation, Thales Group, STREIT Group, UralVagonZavod Corporation, Ukroboronprom, NORINCO - China North Industries Group Corporation Limited (NORINCO), Bayerische Motoren Werke AG, Ford Motor Company, Raytheon Technologies Corporation, Mitsubishi Heavy Industries Ltd., Hyundai Motor Company, Nexter Group, Panhard General Defense SAS, Plasan Sasa Ltd., SABIEX International, Hanwha Defense Co.Ltd.

Contents of the report:
1. Executive Summary
2. Armored Vehicles Market Report Structure
3. Armored Vehicles Market Trends And Strategies
4. Armored Vehicles Market - Macro Economic Scenario
5. Armored Vehicles Market Size And Growth
…..
27. Armored Vehicles Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Explore the report store to make a direct purchase of the report @
https://www.thebusinessresearchcompany.com/report/armored-vehicles-global-market-report

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.